China's consumer market is set to maintain a steady growth trajectory in the first quarter of this year, according to He Yongqian, a spokesperson from the Chinese Commerce Ministry. Speaking on Thursday, He emphasized the resilience and potential of the country's consumer sector.
Reflecting on the eight-day Spring Festival holiday from January 29 to February 4, He highlighted a vibrant festive atmosphere and vigorous consumer activity across the nation.
Data from the Commerce Ministry revealed that sales revenue for key retail and catering enterprises nationwide increased by 4.1 percent compared to the same period last year. Notably, sales of home appliances and communication devices saw a significant rise of over ten percent year-on-year, while catering enterprises reported a 6.2 percent growth in revenue.
Domestic tourism also contributed to the positive outlook, with China recording 500 million passenger trips, marking a 5.9 percent increase from the previous year. The total spending from these trips reached 677 billion yuan ($93.1 billion), reflecting a seven percent rise.
Additionally, box office revenue during the holiday period achieved a new milestone, totaling 9.51 billion yuan ($1.31 billion).
Reference(s):
Official: China's consumer market on track for steady Q1 growth
cgtn.com
